It seems that more and more celebrities are diversifying their portfolios as they enter the wine and liquor industry, and since Ryan Reynolds sold his Aviation American Gin brand as a $ 610 million deal, this appeal is easy to see.

Diageo, the world’s largest beer and spirits maker, bought the brand the actor co-owns in a deal that could cost up to $ 610 million. As part of the deal, Diageo will pay $ 335 million upfront with a potential additional amount of $ 275 million based on aviation performance over the next 10 years.

Ryan Reynolds' Gin Company Just Sold for $610 Million

Image Source: MSN.Com

In 2018, Reynolds purchased a stake in the brand, founded in 2006, and will remain an “ongoing ownership stake” as part of this new deal. In addition to Aviation Gin, Diageo also acquired Astral Tequila, Sombra Mekkal and TIKU Sock from Davos Brands LLC, the brand’s parent company.

I didn’t expect learning a new industry to be a pure creative pleasure. Growing the brand with my company, Maximum Effort Marketing has been one of the most frequent projects that I have been involved in. We are so excited for the next chapter of Aviation Gin, which, I promise, it will only be necessary to read. “

Ryan Reynolds

Reynolds said, “A little over two years ago, I became the owner of Aviation Gin because I like the taste of flying more than any other soul. What I didn’t expect was the ultimate creative happiness in learning a new industry.” permit would like to thank Diageo for their amazing team and passion. We are so excited about the next chapter of flying gin, which I promise will require a little reading.”

Published by TANUJ

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